International Organisations


  1. ‘World Bank’ is also known as









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    The International Bank for Reconstruction and Development (IBRD) has 188 member countries, while the International Development Association (IDA) has 172 members. Each member state of IBRD should be also a member of the International Monetary Fund (IMF) and only members of IBRD are allowed to join other institutions within the Bank (such as IDA). The World Bank is an international financial institution that provides loans to developing countries for capital programs. The World Bank’s official goal is the reduction of poverty. According to the World Bank’s Articles of Agreement (as amended effective 16 February 1989), all of its decisions must be guided by a commitment to promote foreign investment, international trade, and facilitate capital investment.

    Correct Option: A

    The International Bank for Reconstruction and Development (IBRD) has 188 member countries, while the International Development Association (IDA) has 172 members. Each member state of IBRD should be also a member of the International Monetary Fund (IMF) and only members of IBRD are allowed to join other institutions within the Bank (such as IDA). The World Bank is an international financial institution that provides loans to developing countries for capital programs. The World Bank’s official goal is the reduction of poverty. According to the World Bank’s Articles of Agreement (as amended effective 16 February 1989), all of its decisions must be guided by a commitment to promote foreign investment, international trade, and facilitate capital investment.


  1. The headquarters of Organisation of Petroleum Exporting Countries is located in









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    The Organization of the Petroleum Exporting Countries is an intergovernmental organization of twelve oil-producing countries made up of Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. OPEC has had its headquarters in Vienna since 1965,] and hosts regular meetings among the oil ministers of its Member Countries. Indonesia withdrew in 2008 after it became a net importer of oil, but stated it would likely return if it became a net exporter again.

    Correct Option: A

    The Organization of the Petroleum Exporting Countries is an intergovernmental organization of twelve oil-producing countries made up of Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. OPEC has had its headquarters in Vienna since 1965,] and hosts regular meetings among the oil ministers of its Member Countries. Indonesia withdrew in 2008 after it became a net importer of oil, but stated it would likely return if it became a net exporter again.



  1. Who of the following has been appointed as the eleventh President of the World Bank for a five-year term with effect from July 1, 2007?









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    Robert Bruce Zoellick was the eleventh president of the World Bank, a position he held from July 1, 2007 to June 30, 2012. He was previously a managing director of Goldman Sachs, United States Deputy Secretary of State (resigning on July 7, 2006) and U.S. Trade Representative, from February 7, 2001 until February 22, 2005. Zoellick has been a senior fellow at his alma mater Harvard Kennedy School since retirement from the World Bank in July 1, 2012. President George W. Bush nominated Zoellick on May 30, 2007 to replace Paul Wolfowitz as President of the World Bank. On June 25, 2007, Zoellick was approved by the World Bank’s executive board. Note : Jim Yong Kim also known as Kim Yong is a South Korean-American physician and anthropologist who have served as the 12th President of the World Bank since July 1, 2012.

    Correct Option: C

    Robert Bruce Zoellick was the eleventh president of the World Bank, a position he held from July 1, 2007 to June 30, 2012. He was previously a managing director of Goldman Sachs, United States Deputy Secretary of State (resigning on July 7, 2006) and U.S. Trade Representative, from February 7, 2001 until February 22, 2005. Zoellick has been a senior fellow at his alma mater Harvard Kennedy School since retirement from the World Bank in July 1, 2012. President George W. Bush nominated Zoellick on May 30, 2007 to replace Paul Wolfowitz as President of the World Bank. On June 25, 2007, Zoellick was approved by the World Bank’s executive board. Note : Jim Yong Kim also known as Kim Yong is a South Korean-American physician and anthropologist who have served as the 12th President of the World Bank since July 1, 2012.


  1. Under the rules of the IMF, each member is required to declare the par value of its legal tender money in terms of U.S. dollars and










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    In 1945, the Bretton Woods Agreement Act was enacted. Under the Article of Agreement of the I.M.F, each member of the IMF was required to establish a par value for its currency expressed in terms of gold, and to take appropriate measures to permit within its territories exchange transactions between its own currency and those of other IMF members for the official settlement of international transactions. Only the dollar remained convertible into gold at a price of $35 per ounce. Each country decided what it wanted its exchange rate to be vis-à-vis the dollar and then calculated the gold par value of the currency based on that selected dollar exchange rate. All participating countries agreed to try to maintain the value of their currencies within 1 percent of the Par value by buying or selling currencies(or gold) as needed.

    Correct Option: B

    In 1945, the Bretton Woods Agreement Act was enacted. Under the Article of Agreement of the I.M.F, each member of the IMF was required to establish a par value for its currency expressed in terms of gold, and to take appropriate measures to permit within its territories exchange transactions between its own currency and those of other IMF members for the official settlement of international transactions. Only the dollar remained convertible into gold at a price of $35 per ounce. Each country decided what it wanted its exchange rate to be vis-à-vis the dollar and then calculated the gold par value of the currency based on that selected dollar exchange rate. All participating countries agreed to try to maintain the value of their currencies within 1 percent of the Par value by buying or selling currencies(or gold) as needed.



  1. The latest addition to the list of UNESCO’s world heritage sites in India is











  1. View Hint View Answer Discuss in Forum

    India’s first two sites inscribed on the list at the Seventh Session of the World Heritage held in 1983 were the Agra Fort and the Ajanta Caves. Over the years, 27 more sites have been inscribed, the latest site inscribed in 2012 being the Western Ghats. Of these 29 sites, 23 are cultural sites and the other six are natural sites. A tentative list of further sites/ properties submitted by India for recognition includes 33 sites. The World Heritage Sites in India are recognized by the United Nations Educational, Scientific and Cultural Organization (UNESCO) as on 29, as of 2012. These are places of importance of cultural or natural heritage as described in the UNESCO World Heritage Convention, established in 1972.The Convention concerning the protection of the World Cultural and Natural Heritage was adopted on 17 November 1997 following the General Conference of the UNESCO held from 17 October, 1972 to 21 November, 1972 Note : Three new sites – “Archaeological Site of Nalanda Mahavihara (Nalanda University)” at Nalanda, Bihar, “Capitol Building Complex – The Architectural Work of Le Corbusier” in Chandigarh and “Khangchendzonga National Park, Sikkim” have been added to the list in July, 2016.

    Correct Option: E

    India’s first two sites inscribed on the list at the Seventh Session of the World Heritage held in 1983 were the Agra Fort and the Ajanta Caves. Over the years, 27 more sites have been inscribed, the latest site inscribed in 2012 being the Western Ghats. Of these 29 sites, 23 are cultural sites and the other six are natural sites. A tentative list of further sites/ properties submitted by India for recognition includes 33 sites. The World Heritage Sites in India are recognized by the United Nations Educational, Scientific and Cultural Organization (UNESCO) as on 29, as of 2012. These are places of importance of cultural or natural heritage as described in the UNESCO World Heritage Convention, established in 1972.The Convention concerning the protection of the World Cultural and Natural Heritage was adopted on 17 November 1997 following the General Conference of the UNESCO held from 17 October, 1972 to 21 November, 1972 Note : Three new sites – “Archaeological Site of Nalanda Mahavihara (Nalanda University)” at Nalanda, Bihar, “Capitol Building Complex – The Architectural Work of Le Corbusier” in Chandigarh and “Khangchendzonga National Park, Sikkim” have been added to the list in July, 2016.